Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1887-05-31
views orsir Edvard Thornton.

SlE EuNdTu thornton, one vi tHo iePio
scntatiyes of this EDgish holders Of Virginia
bonds, says that his colleague. Mr.. 5. n.
Braithwaite, and himself worked very hard
TO effect an amicable settlement with the
State authorities, and failing to do so pre-
pared report of their labors, which is now
on its wey to England He says his .obser-
walton convinced him that the debt question
has developed into political Issue i'll the
State, and any settlement that will be salts
factory TO the English bondhOderS In the
slightest degree is extremely doubtful, I'M
less the people Of the State take the matter
to the polls and dispose OF it there. The
better class of people in Virginia, he says,
favor an honest adjustment Of the debt, but
this class is overpowered by the political
forces The democrats are divided on the
subject, while the republicans are united.
So far as The politicians are concerned,
Sir Edward says he has but little faith
in the promises made by either party,
although he inclines TO the view that the
more Intelligent class OF people in Nir-
GINA are TO be found in the democratic
party, while the republican party is made
up almost entirely OF the coored people and
The designing whites who lead them The
latter promise to do the right thing after the
next presidential election, in case the repub-
licsn party is victorious. What they will
consider the right thing after the election is
over, in case they should he successful, de
pends upon circumstances. The democrats
ara badly frightened over Mahoneism, and
they do not known inst which course TO
pursue in this matter 10 get the advantage
ofhim. They have all The money and all
4 of ia
act in accordance with thejudgment Of the
best people in The State Sir Edward says
he has concluded that the joint committee Of
the Virginia Legislature who consulted
with the English representatives had no in.
tenlion of making proper settlement, and
many of them used the opportunity 10 man.
ufacure political capital for themselves, as
several of them went out and made speeches
for the public while the negotiations were
pending. He says the Virginians have in
jured their credit all over the world By
their action in this matter, and they are
to day required to pay higher rate
of interest for money than they would
be had they made an effort even
to pay the interest on their debt. No for
eign country will lend them money now on
| any terms, and, as consequence, the peo-
pie of the State have to bear additional bur-
dens. The last proposition made by the
bondholders was considered fair and just by
all fairminded people in this country and
abroad, yet it was rejected, either because
the Vir2lnans do not intend TO come to
terms or because they Gid not see the force
OF the argument that it would be greatly to
their advantage to have the option of re-
deeming the principal OF the consol and ten
forty debt at tho rate of IS cents Oh the dol
lar. The bondholders offered 10 compro-
mise on the basis Of thirty odd millions, and
the Virginians placed their total at twenty
odd millions 1--WE would have accepted
this latter proposal y said Sir Edward chad
it been accompanied by the cash, but We
could not consent TO fund it. The Virgin.
ians claim they are poor and cannot afford
to pay the debt, no matter now willing they
might be 10 do 80. If they would only make
an effort to pay the interest on the debt,
that would be taken as an act of good faith,
and their credit could thus be restored
and they could borrow all the money they
need. ~ Hash Correspondence Of Bdlio SIN,
30h